Visa is paying out a jackpot to vendors willing to bet against old money, and roll the dice on cashless transactions. Visa will give $10,000 to 50 restaurants that pledge to go cashless. The new initiative, what Visa executive Jack Forestall calls “a journey to go cashless,” will incentivize vendors to rip off the bandaid of paper transactions and progress to a cashless system. The money can be used for marketing and updating point of sale technology to focus payment exclusively on credit and debit cards and electronic payment. Visa will select participating merchants in August. Cash remains the predominate method of payment, according to the Federal Reserve. A report… Read More

Here at rapid! PayCard® we do more than maintain adherence to state and federal regulations. We keep our clients well-informed of the ever-evolving payroll laws. A consistently updated, interactive map which serves to deliver current, state-by-state updates on legal requirements and how rapid! PayCard complies. Our goal is to provide employers with innovative and responsive payroll card programs. We observe industry-wide best practices for the delivery of high-quality payroll cards that maintain the objectives of choice, safety, affordability, transparency, and convenience. For example, here’s a look at some of the legal requirements in the state of Maine and how we conform: Cash Access Employees must be paid their full wages… Read More

BY GRETCHEN INOUYE, CPP Payroll, which includes taxes and benefits, is frequently the largest operating expense of an organization. Then when you factor in the confidential payroll information to the financial aspects, developing and maintaining adequate controls within the payroll environment is essential. Controls generally fall within three areas: physical controls, staffing practices, and system controls. The size and complexity of an organization will determine the levels and types of controls to implement, although some controls are applicable in all environments. Physical controls involve restricting access to payroll by establishing actual physical barriers such as using locks on doors, desks, and filing cabinets. If access to the payroll department is… Read More

We provide our customers with a consistently updated, interactive map which serves to deliver current, state-by-state updates on legal requirements and how rapid! PayCard complies. Our goal is to provide employers with innovative and responsive payroll card programs. We observe industry-wide best practices for the delivery of high-quality payroll cards that maintain the objectives of choice, safety, affordability, transparency, and convenience. For example, here’s a look at some of the legal requirements in Washington State and how we conform: Cash Access Legal Requirement – State Statute of Washington State: Employers that pay employees by electronic means must ensure that wages are available to employees on the established payday. Wash. Admin…. Read More

Overdrafts. The bane of our bank accounts. This is just one of the financial expenses imposed on hard-working consumers; not to mention the costs of foreign Automated Teller Machines (ATM) fees when there’s not a branch in sight when you need one. It is of course clear that banks are a business. They provide a service and should be paid for it. But there’s compensation, and then there’s compensation. In May of 2015, CNN Money reported that America’s three biggest banks: JPMorgan Chase, Bank of America, and Wells Fargo earned over $1.1 billion on overdraft fees. And if they stay on pace and you extrapolate those numbers, from this fee stream alone,… Read More

For those who don’t know, payroll cards, such as the rapid! PayCard, are prepaid cards that are loaded up by employers every pay period. The rapid! PayCard® lets you collect, manage, and spend your money with the convenience of a prepaid card, while providing greater security1 than carrying cash. Our rapid! PayCard requires no credit check2 and can be issued3, 4 instantly by your employer. Using the rapid! PayCard gives employees lots of benefits and an easy, hassle-free user experience. This means less stress, less aggravation and less worry when it comes to actually getting your hard earned pay check. With rapid! PayCard you can have all of your payments loaded directly… Read More

July has been a busy month for the PayCard industry, with the Department of Education and the State of New York Department of Labor both addressing rule making proposals! The Department of Education is addressing a rule change regarding the disbursement of Title IV Funds. These funds include all federal grants, loans and financial assistance for college students. Universities and colleges are tasked with the responsibility of applying the funds to tuition and fees for each student as well as disbursing any remaining or additional funds to said student. The debate currently being addressed is determining the most efficient and cost effective way to get the funds to the students…. Read More

Saving isn’t always easy, and can sometimes feel like a necessary evil, but in order to secure your financial future, establishing healthy habits for saving is imperative. It’s never too late to start saving for your future, even if you start small. Set goals for your financial future, and then work towards those goals. If you don’t even know where to start, we’ve compiled a few saving strategies that, we think, will be a great place for you to start. Think Before you Buy The first tip is to think before you buy. When you are considering making a purchase, ask yourself if you really need it or if it… Read More

These days, prepaid cards are more popular than ever. When sending a child off to college, a major concern on every parent’s mind is money. How will my child receive money? What if an emergency happens and their account balance is low? What if they need money for food? This is where rapid! PayCard can help ease your family’s worries. Prepaid cards are easy to obtain and widely accepted. These cards are easy to reload, especially online. With rapid! PayCard money is available as soon as it is transferred – no wait time. So if an emergency situation occurs, or your child is short on money for the month, the… Read More

Hard-working employees deserve a break every once in a while, but vacations always seem to leave the people still in the office in a bit of a crunch. That is where rapid! PayCard comes in. With rapid! PayCard your payroll department has the ability to auto schedule payroll while they are away on vacation. This saves your company from facing the expenses of hiring and training temporary staff while your payroll personnel is out of the office. Gone are the days of traditional payroll where checks were processed, printed and hand delivered by payroll. With the convenience of ePayroll and rapid! PayCard companies and payroll departments have many benefits including:… Read More

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rapid! PayCard® Visa® Payroll Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Bancorp Bank; Member FDIC.

The rapid! PayCard® MasterCard® is issued by MetaBank®, Member FDIC, pursuant to license by MasterCard International Incorporated. Prepaid card can be used wherever Debit MasterCard is accepted. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.

The rapid! PayCard blog and any information contained within do not reflect the views of MetaBank or MasterCard, nor are they endorsed by MetaBank or MasterCard.